Pakistan’s exports to the United States show a strong growth, increasing by 10.4% during the first eight months of the current fiscal year. Official trade data reveals that overall exports to North America rose by 9.7%, summing up to $4.2 billion.
The textile and garment sector continues to dominate Pakistan’s export basket, accounting for 94% of all shipments to the U.S. market. This positive export performance is due to multiple factors.
These factors include improved trade facilitation measures implemented through the Special Investment Facilitation Council (SIFC) and growing international demand for Pakistani products.
The government is leading trade policy reforms, supported by SIFC initiatives, which played a crucial role in driving this export growth. The upward trend provided much needed support to Pakistan’s foreign exchange.
These reserves indicate a gradual recovery in the country’s export sector. On the policy front, Finance Minister Muhammad Aurangzeb clarified Pakistan’s stance regarding U.S. trade tariffs imposed initially during the Trump administration.
In a recent BBC interview, the minister acknowledged Pakistan’s concerns about these tariffs creating business uncertainties but firmly stated the country has no plans for retaliatory measures.
Aurangzeb highlighted the importance of constructive dialogue in navigating the evolving global trade environment, noting that while the U.S. remains a key trade partner, Pakistan values its equally crucial economic relationship with China.